LEXICON PHARMACEUTICALS, INC. 10-Q

Item 4. Controls and Procedures Our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures (as defined in rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) are effective to ensure that the information required to be disclosed by us in the reports we file under the Securities Exchange Act is gathered, analyzed and disclosed with adequate timeliness, accuracy and completeness, based on an evaluation of such controls and procedures as of the end of the period covered by this report. In the first quarter of 2025, we implemented a new enterprise resource planning ("ERP") system for financial reporting. The implementation of this new ERP system resulted in changes to certain of the Company’s accounting and financial reporting processes and procedures but has not materially affected our internal control over financial reporting. There were no other changes in our internal control over financial reporting during the three months ended March 31, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 21 Part II -- Other Information Item 1. Legal Proceedings We are from time to time party to claims and legal proceedings that arise in the normal course of our business and that we believe will not have, individually or in the aggregate, a material adverse effect on our results of operations, financial condition or liquidity.